Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

Depilatories in Peru

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Executive Summary

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PROSPECTS

Razors and blades are favourite method of depilation

There is increasing awareness of waxing methods being more durable, but razors and blades remain the preferred method for women in the country. Once they acquire the ritual of eliminating undesired hair, they choose razors because they are much more economic and they are also available in small independent grocery stores, market stalls and pharmacies, very close to any home.

More women adopt sophisticated beauty styles

Consumers are becoming more experienced and begin to demand more beauty products. Furthermore, mass media exposure along with international influence are also shaping how beauty is seen in the country, transforming the consumption occasion to a daily basis.

Consumers are torn between the results of the product and its price

The benefits of wax bands such as Reckitt Benckiser's Veet are recognised, which are the long duration of the effects, since the hairs take up to four weeks to grow back. In addition, the skin remains soft and is not subject to damage.

COMPETITIVE LANDSCAPE

Main competition comes from men razors

In most low- and midde-income households, women who have decided to remove their undesired body hair use men’s razors because they are cheaper than those designed exclusively for women and also because of larger availability through traditional channels such as small independent grocery stores which are located in all kinds of neighbourboods. It is important to mention that currently, women’s razors are only available through modern retailers.

Laser hair removal is becoming an important competitor

Laser hair removal has expanded, gaining traction by reducing prices and becoming more accessible to middle-income consumers. Hair removal salons have increased their presence by opening new venues and have been reached mass audiences by continuously announcing promotions through social networks, such as "bring a friend and do not pay" for Valentine's Day, or "pay the daughter and the mother at half price" for Mother's Day.

Competitive landscape is not expected to show large variations

It is expected over the forecast period that Reckitt Benckiser Perú and Procter & Gamble Peru will continue leading depilatories due to continuous innovations to attract more consumers and enlarge the current small consumer base, penetrating mainly middle-income households where some women still use men’s products or are not in the habit of removing body hair. Therefore the use of TV advertising and in-store promotions is highly expected.

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